Basic reference price set at Ks 630,000 for 100 baskets

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Mawlamyine, November (13)

The Protection of Peasant Rights and Interest Promotion Leading Body announced on November 11 that 100 baskets of paddy for this monsoon and summer rice will be set at the basic reference price of Ks 630,000.

If the grains have a moisture level of 14%, are free of dust, sand, and gravel, and match the set standards, the basic reference price of 100 baskets of paddy, each weighing 46 pounds, will be Ks 630,000.

If the market price is higher than the basic reference rice price, one must purchase the rice at that higher price; on the contrary, if the market price is lower than the basic reference rice price, one must purchase the rice at the reference price.

A rice farmer told Than Lwin Times that, “The prices of input products such as fuel and fertilizer are three times higher than before, so it will be convenient for farmers if the basic reference price of rice is set at around Ks 1,000,000.

During the coup d’état, rice farmers were suffering from the exorbitant increase in the price of agricultural inputs, fertilizers and labor costs.

Prior to the military coup, fertilizer cost between 20,000 – 30,000 kyats per bag, depending on the type. However, following the coup, the price increased to approximately 80,000-100,000 kyats per bag.

In addition, most farmers must rent a rice harvester for 90,000 to 95,000 kyats per acre during the rainfed rice harvest season due to a labor shortage.

On the other side, a farmer claimed that rising input costs, insufficient fertilizer, and the threat of pests are already causing losses.

The current price of rice is 1,500,000 per 100 baskets, and due to high input and general costs as well as a decline in yield, rice farmers say they want the standard price of rice to be 1,500,000 kyats per 100 baskets.

The monsoon rice season last year saw lower rice yields as a result of natural disasters and insects, and rice farmers suffered losses due to high input costs driven by inflation as a result of a military coup.

Mon State has nearly 700,000 acres of rain-fed rice and produces more than 400,000 rice baskets every year, exporting them to some regions and states.

News-Than Lwin Times

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